Illinois Bill Would Create 10 Percent State OZ Investment Tax Credit

Tuesday, February 11, 2020 - 9:30am

Illinois legislation would create a 10 percent state tax credit for investments in qualified opportunity funds that invest in the state’s opportunity zones. H.B. 4761 would create the credit for tax years beginning on or after Dec. 31, 2020, with a cap of $50 million for each two-year fiscal period. There would be a taxpayer cap of $1 million and the credit could be carried forward five years.